That Made-in-S’pore feel

Singapore has positioned its economy to be an open one, dependent on global markets. But we should not forget the need to support the local economy, which has played a key role in helping us to grow during the post-independence years, and could help lessen our “dependency” on globalisation.

The Government should look towards reducing costs of operations locally so as to encourage a vibrant internal economy — featuring mom -and-pop shops, cottage industries and niche services which will provide employment, boost entrepreneurship and create a sense of achievement: A Made-in-Singapore feel.

When tourists visit China, Australia, the United Kingdom, Thailand, Taiwan and so on, they look for night and flea markets, local food and artisan products — these are small enterprises, alive and kicking.

The wave of immigrants to Singapore should also have resulted in a booming “local” economy with the building of more infrastructure and services for these newcomers. Instead, we see a bottleneck in service delivery as a result of greater demand.

Our internal economy will provide a decent level of demand and earnings if adequately supported and encouraged. The injection of vibrancy, commerce and a sense of belonging will go a long way towards making a happier Singapore.

We continue to need foreign investment and we must assert ourselves on the global stage, but let us not forget our internal economy.